If you have an adjustable rate mortgage (ARM) or have thought about getting one, you may wonder how your loan balance is amortized. Designing an amortization schedule is an easy way to see how a mortgage payment is applied to paying down the balance over time. Read More
Once thought of as the agile, exuberant cheerleader of home loans, the adjustable rate mortgage (ARM) accounted for as many as one in four mortgages in 2006. A few years later, when ARMs became branded one of the risky, greed-filled indulgences of the financial crisis, their number fell dramatically. Yet ARMs have seen a recent uptick in popularity, but with a much clearer view of what they really are and who can benefit from their flexibility. Read More
